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Story of the $72 million teen trader unravels
cnnmoney ^ | 12/15/14 | Tom Kludt

Posted on 12/15/2014 7:18:24 PM PST by Signalman

It didn't take long for New York Magazine's story on a 17-year-old stock whiz with a rumored net worth of $72 million to make a splash. But the story's juicy premise unraveled almost as quickly. Wapo.com Jessica Pressler wrote the profile of Mohammed Islam, a senior at Stuyvesant High School in Manhattan, for a feature called "Reasons to Love New York." After getting an advanced look at Pressler's piece, the New York Post put the improbable story on its Sunday front page. By Monday morning, Islam's story was one of the hottest on Facebook.

Then it fell apart. In an interview with the New York Observer published Monday night, Islam admitted that he fabricated the whole story and has never actually made a return on any investment. "So it's total fiction?" asked the Observer. "Yes," Islam said.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy
KEYWORDS: mohammedislam; newyork; newyorkcity; queens; scam; trader
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To: GrandJediMasterYoda

When you’re young and dumb, the wife wants a sofa or the clothes dryer broke, the poorest choice get made. Now when the “When mamma ain’t happy, nobody is happy” effect takes hold, I settle for the unhappiness. It took me 25 years to stop making decisions to make other people happy.


41 posted on 12/15/2014 8:00:40 PM PST by blackdog (There is no such thing as healing, only a balance between destructive and constructive forces.)
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To: Defiant

Oh that’s right, I forgot about that guy.


42 posted on 12/15/2014 8:02:26 PM PST by GrandJediMasterYoda (Obama: 7 acts of blatant treason and counting.)
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To: Axenolith

We carried the principals English Ford out on the beach pier crossways. It fit almost perfectly.


43 posted on 12/15/2014 8:05:08 PM PST by SWAMPSNIPER (The Second Amendment, a Matter of Fact, Not A Matter of Opinion)
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To: Celtic Conservative

What gets me is they consider a picture of Mohammed to be sacrilege, yet they have no issues walking around making pretend they are Mohammed.


44 posted on 12/15/2014 8:06:49 PM PST by GrandJediMasterYoda (Obama: 7 acts of blatant treason and counting.)
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To: Axenolith
I love the story! I smell a great rags to riches to rags thread at FR. All the woulda, coulda, shoulda disasters and the crazy jackpot picks.

I had a boss who sailed the Chesapeake Bay for one week every year. No phones or contact. His broker was frantically trying to get hold of him. He lost $600,000 because he didn't want to be disturbed on his boat. When he found out when he came back, he just shrugged and said "oh well"..........Classy guy.

45 posted on 12/15/2014 8:07:38 PM PST by blackdog (There is no such thing as healing, only a balance between destructive and constructive forces.)
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To: Signalman

Trading during Lunch , well look at him he’s never missed a lunch or breakfast or Supper or for some dinner, Oh and snacks


46 posted on 12/15/2014 8:07:50 PM PST by molson209 (Blank)
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To: GrandJediMasterYoda

I’m not suprised. I swear muslims invented “cognitive dissonance”.

CC


47 posted on 12/15/2014 8:08:49 PM PST by Celtic Conservative (Tagline Constructon zone- low humor ahead)
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To: Signalman

“Early Monday, CNBC’s Josh Brown wondered if Islam was duping “an overly eager press willing to believe.”

Da ya think? They’re so eager to put out positive stories about muslims, that any fool could con them.

I’d like to see Howard Stern send out a couple of his flunkies snag a few more.

Brings back memories of Rush rightly criticizing the press for slobbering all over 2nd rate Donovan McNabb.

Paraphrasing Rushbo...

“The media is very desirous that a muslim does well...”


48 posted on 12/15/2014 8:19:41 PM PST by aquila48
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To: GrandJediMasterYoda; Signalman

“”If he lied, then he lied,” she added.

The story, in her mind, was still worth doing.

“The story is the reason to love New York,” she said. “And I came to love the fact that these kids are running around the city with these big dreams. It can only happen in New York, these kids eating caviar, talking about how they’re going to be the new Koch bothers. It seems like a uniquely New York milieu.””

In other words the fact that it’s a lie is not important - what’s important is the bogus story.

Note to any Bloomberg News aficionados...

“Pressler, who will be heading to Bloomberg News next year to lead a financial investigative unit...”


49 posted on 12/15/2014 8:31:43 PM PST by aquila48
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To: Signalman
"So it's total fiction?" asked the Observer. "Yes," Islam said.

It sounds like a Louis Carroll story or perhaps a chapter by Swift.

50 posted on 12/15/2014 8:39:41 PM PST by 1010RD (First, Do No Harm)
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To: Flycatcher

Reminiscent of the Sex Maniacs teaching children what’s what for the last half century.


51 posted on 12/15/2014 8:42:05 PM PST by 1010RD (First, Do No Harm)
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To: ClearCase_guy

Those Johnny Deadlines don’t need a story, they need a headline, then the story writes itself.


52 posted on 12/15/2014 8:43:15 PM PST by 1010RD (First, Do No Harm)
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To: Signalman

Glad I was sufficiently skeptical so as to not bother reading the original story.


53 posted on 12/15/2014 8:43:53 PM PST by G Larry (Amnesty imposes SLAVE WAGES on LEGAL immigrants & minorities)
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To: SWAMPSNIPER

I kinda love the “almost” part.


54 posted on 12/15/2014 8:46:19 PM PST by ArmstedFragg (Hoaxey Dopey Changey)
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To: GrandJediMasterYoda

I can see by your handle that you’d make a real good investment adviser.

NOT!

I got google at $500, just a few dozen shares. But, I rode that mule to the offshoot and sold out. As I watch GOOG now, it’s holding steady at about $500/share.

Oh, I put my gain in AAPL at the 7:1 split. Expect that to go to $200/share.

I earned my lumps coming up, taking lessons/advise from a retired broker who equated stocks with Vegas. They don’t make them fancy palaces because they like to make millionaires everyday. It’s a gamble, very similar to craps and roulette. The trick is to get out when a little ahead, or put your money back in your pocket and play with the house’s money.


55 posted on 12/15/2014 9:52:06 PM PST by woofer
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To: blackdog

Your boss ROCKED!

have you ever had a day, or period where if you had to post it against that type of money, you’d take it, or consider the loss worth it?


56 posted on 12/15/2014 10:41:39 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: Signalman

How come “Media was fooled” is becoming such a common headline?


57 posted on 12/15/2014 11:46:54 PM PST by Tzimisce
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To: Jonty30
He didn't just fool this reporter, apparently he orchestrated a web of lies and now doesn't know how to unravel them before he launches his hedge fund.

Why else would he actually do a TedX Talk?

Everyone is quick to blame everything on the stupid reporters - they were duped, but this guy is a future Madoff.

58 posted on 12/16/2014 12:24:40 AM PST by Bon mots (American Exceptionalism becomes American Acceptionalism under this regime... :()
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To: ClearCase_guy
The news media does no research or fact-checking. They just want a good story.
A minority hits it big? Great!
Obama saves the day? Wonderful!
College students are rapists? Everyone knows that!
Republicans are rich and sleazy? Extra! Extra!


None of this needs to be true. As long as it sounds good.


Minorities? Good
Whites? Bad
Men? Bad
Women? Good

Policeman shoots a black criminal? Put the policeman in prison.
Black criminal killed while committing a crime? Hero, martyr.

I don't think they just want a good story, they have an aggressive, evil agenda.

59 posted on 12/16/2014 12:29:44 AM PST by Bon mots (American Exceptionalism becomes American Acceptionalism under this regime... :()
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To: Jet Jaguar
She should resign and become a fantasy writer.

*******

Is Obama related to this teenager? Obama and this teenager seem so skilled in lying about their pasts.

Do you realize that we know more about this New York City teenager than we know about the early background of one President Obama?

What is true and what is fake about President Obama's background? Does anyone know? God help us.

60 posted on 12/16/2014 12:43:57 AM PST by john mirse
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